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Immediately contact your credit card company if you do not think you can pay your credit card bill on time. Reputable credit card companies are assisting borrowers who cannot make their credit card payment because of the COVID-19 crisis. But most of these companies are doing so only when the consumer contacts the company directly.

Banks and credit card companies are regulated by federal and state banking agencies. Various government agencies have issued guidance and applied pressure to encourage banks and credit unions to be flexible during this time and work with customers affected by COVID-19. Lenders are under significant governmental, media, and practical pressure to cooperate with impacted consumers to prevent them from defaulting on their accounts or suffering credit report damage.

It also makes sense that banks should accommodate customer hardship requests, as the present crisis is not a reflection of individual consumer credit performance and lenders do not want to cause further account defaults.